Uptrend Continues
As suggested last week, I have modified the wave count to incorporate Waves 3 and 4 (blue). The STI is now forming Wave 5, with its first subwave formed. Based on the fact that Wave 1 is 583.88 units long and Wave 3 is 380.01 long, Wave 5 cannot be longer than 380.01 units long. It is an Elliott Wave Principle rule that Wave 3 cannot be the shortest when compared with Waves 1 and 5. Thus Wave 5 cannot rise above 4524.90. Readers should take note and not allow hubris to make them to blindly continuing to invest as the STI approaches 4520.